Aside from the binary options, the next first growing trading option is Contract for Difference (CFDs). Various brokers including XTrade have come up with delicious innovations to help replace the traditional way of doing business. CFD is a type of trading where you buy contracts from your broker that has a possibility if the market moves in your favor. Your profit will be determined by the difference between the openings and closing, units bought and leverage selected. This type of trade is flexible and many brokers have decided not to only trade on forex but also to include stocks, commodities and indices to increase the trading option and luxury for their clients.
XTrade was founded in 2010 in Cypress and has regulators like ASIC and CyCEC. The minimum deposit here is $100 that can be deposited in over 40 ways including bank wires, debit and credit cards. Prompt withdrawals are done the same way you did your deposit provided that you’ve complied with both the government and international laws regarding this. XTrade is a global firm with five offices in five continents and representing 140 nations. The firm provides good customer services where their reps use six languages for communication and the web provides 17 languages for customers. You can reach customer service 24 hours, six days a week. The communication is based on; live chats, direct phone and emails.
How does XTrade generate its revenue?
XTrade provides 52 currency pairs including 21 exotic pairs that are uncommon with other brokers. Apart from forex, there are almost 100 asset choices with each having its own; minimum margin requirement, leverage and bid/ask spread dynamics. The firm doesn’t charge commissions and makes its revenue through spreads and overnight premiums. XTrade has one standard account that has its demo, there are bonuses for initial deposits that ranges from 20%-60% and could be more if you deposit above $10,000.
What platform does XTrade operate on?
XTrade operates on its own developed web platform that’s almost identical other known platforms. The platform is easy to use and doesn’t require downloads. There’s also mobile version for this trade. The leverage can be as follows; a high of 400:1 for forex, 200:1 for commodities and indices and 20:1 for stocks. The web is user friendly as it allows instant access to reach open positions, history, trading tools and asset selections. The firm offers Bitcoin pairing to the traders with the knowledge. Too bad for US clients as they take part at the moment
Is it secure to trade with XTrade?
There’s no need to panic in a firm that has existed for 7 years and has a global recognition. The firm has license from CySEC to operate in Cypress where the headquarters is. In addition, its five global offices have complied with domestic regulations to operate where they are. You’re further protected with 20,000 EUROs that XTrade has deposited with the Compensation Fund in Cypress. XTrade operates under XFR Financial Ltd whose license number is 108/10. XTrade traders are covered from any attempt of hacking as all personal details and trading data have been encrypted 256-bit SSL Technology.